Study on 100 ICOs Identifies Social Reach, No. Of Advisors and a Raise of $10M as Key Factors for Success

Washington DC-based crypto firm RAD Lending last week announced the results of its study which analyzed 100 successful initial coin offerings (ICOs) from the past 6 months, checking 20+ variables to see what factors are likely to make a token sale a success, looking at medians and statistical correlations. The study found that USD 9,275,000 was the median amount of contribution for success, and a wide social reach was key — the median number of followers is 4,203 for Twitter, 5,471 for Facebook and 2,982 for Telegram. Advisors also played a big part, their number strongly correlated with money raised.

RAD gathered candidates from ICO list sites, eliminated those that did not provided social proof of a finished ICO or were too good to be true, according to the company’s statement. The researchers used tools, like GTmetrix and Pingdom, but also relied heavily on manually checking data accuracy.

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The main findings of the study appear below:

What does the online communication for a successful ICO look like?

Snappy and memorable: The length of the domain name is seven characters.

Radiates trust and experience: There’s a median of 10 team members and five advisers presented on the website.

Has a wide social reach: The median number of followers is 4,203 for Twitter, 5,471 for Facebook and 2,982 for Telegram.

Mentions across the web: The median number of backlinks is 6,510.

Shares a lot about itself: The sites are large with decent load time. The median site size is less than 3.5 MB and loads under six seconds from anywhere in the world.

What are the key indicators for success?

Advisors: The number of advisers presented on a website strongly correlates with money raised.

Telegram: Out of all the social channels, the number of Telegram followers strongly correlates with money raised.

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